NY gov: $1B to Buffalo as part of jobs program

AP News
Posted: Jan 04, 2012 2:20 PM
NY gov: $1B to Buffalo as part of jobs program

New York Gov. Andrew Cuomo says the economically distressed city of Buffalo will get $1 billion in incentives for employers to lift the city out of its third-place national poverty ranking behind only Detroit and Cleveland.

Cuomo says the state incentives stretched out over several years will be used to draw employers the same way high-tech companies were attracted to the Albany area with tax breaks and grants.

He says the state will empower the Buffalo Regional Council to develop a plan to create thousands of jobs.

Cuomo's State of the State address on Wednesday again calls for a second round of competitive grants to attract and retain employers statewide.